Sponge Price Experience Upsurge Toward of $0.000136

Bulls momentum increase in Sponge Market

SPONGE Price Analysis – 26 October

The price will rise to $0.000196 and $0.000330 if the resistance level at $0.000136 is breached. Should the $0.000136 level hold, the price might drop to the support levels at $0.000004 and $0.000006, in case the $0.000087 level permits

SPONGEUSDT Market

Key Levels:

Resistance levels: $0.000136, $0.000196, $0.000330

Support levels: $0.000087, $0.000004, $0.000006

SPONGEUSDT Long-term Trend: Bullish

On August 7, after stabilizing for a few days, Sponge started to increase. When the extended daily bullish candle emerges and breaches the $0.000136 resistance level, this becomes clear. With additional bullish candles emerging, the price is getting closer to the $0.000196 price level.  As the sponge surges higher today, it is aiming for the $0.000136 barrier level, where a strong daily bullish candle is building.

The daily chart shows that buyers are in control of the market. A bullish trend has begun as the price has broken above the 9- and 21-period moving averages (EMAs), with the former above the latter. Sponge will rise to $0.000196 and $0.000330 if the resistance level at $0.000136 is breached. Should the $0.000136 level hold, the price might drop to the support levels at $0.000004 and $0.000006, in case the $0.000087 level permits. Meanwhile, the relative strength index period 14 at 47 levels provides a bullish indication.

SPONGEUSDT Medium-term Trend: Bullish

Sponge’s outstanding medium-term performance may be attributable to the company’s clients’ continuous need. In other words, price actions have been upward since the $0.000087 price level was tested. The market is trending upward, and it might keep going in that direction until the bulls construct a significant barrier or the $0.000136 resistance level holds.

The upward advance could aim to test the significant resistance of $0.000136 and $0.000330. With one more push from the bulls, the coin can reach the high resistance level of $0.000330. The rising signal line and the RSI (14) entering the oversold zone indicate a buy signal.

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